Auto Refinance Loans, Resources & More
You could save thousands on your auto loan by lowering your monthly payment and paying less interest when you refinance at a lower rate.
And when you refinance your auto loan with Gulf Winds, you can refinance it for however many months you have remaining on your current auto loan. That way your payoff date won't be extended but you will still save money with our lower rate.
Financial circumstances change all the time. Maybe you need a little extra money in your monthly budget. Or perhaps you're looking to pay off your loan faster. Whatever your reasons, Gulf Winds can help you refinance your auto loan with terms that are more favorable to your current situation.
Gulf Winds offers:
- Rates as low as 3.39% APR
- Flexible loan terms and conditions
- 36 months — a shorter term means you'll pay off your car sooner
- Up to 84 months — lower your monthly payment even more
- No payments for 90 Days
- Simple loan application
- Auto loan protection, including Extended Warranty, Guaranteed Asset Protection (GAP) and Credit Life & Credit Disability on your auto loan.
Visit your local branch or call us toll-free at 1.800.650.6328.
How An Auto Refinance Can Save You Money
An auto refinance can be a great way to save money every month with lower loan payments and better rates.
For example, when you purchased your vehicle let’s say you financed $26,000 over six years at 5.49% APR. Your monthly payment is $424.66. One year later, you've paid over $1,300 in interest. At the end of the six-year loan, you will have paid more than $4,500 in interest.
|Refinanced Auto Loan†||Continue Current Loan†|
|Term||60 months||60 months|
Monthly Savings = $19.72
Total Savings = $1,183.34
†Amounts used for illustration purposes only.
|Term||APR Range||Est. Payment/$1,000 Borrowed|
|Up to 36 months||3.39% - 13.99%||$29.25 - $34.20|
|Up to 66 months||3.54% - 15.99%||$16.70 - $22.90|
|Up to 75 months||3.99% - 17.99%||$15.09 - $22.32|
|Up to 84 months||5.04% - 7.84%||$14.15 - $15.51|
Rates as of . Maximum loan term will depend on the age of collateral and/or the size of the loan. The actual APR may vary based on the applicant's credit history and underwriting criteria. Add 1% APR for an vehicle with over 75,000 miles.
Estimate Your Monthly Payment
This is only an estimate. Your actual terms and rates will vary depending on credit history and the details of the loan. Contact us to get your best rate.
For more details, use our Advanced Calculators.
Auto Refinance Frequently Asked Questions
If you still need more information about refinancing your car loan, check out these answers to some frequently asked questions.
The number one reason to refinance your auto loan is to simply save money. Maybe you didn't get the best rate when you purchased your vehicle. Maybe your credit score has improved since your purchase and you can now command a lower interest rate.
Whatever the reason, securing better loan terms could improve your current financial situation.
There are several situations when refinancing your auto loan makes sense:
- You're unable to keep up with your current monthly payments
Refinancing can reduce your monthly payments on your auto loans, either by reducing your interest rate or extending the length of your loan.
- Your current financial situation is better than it was when took out your original loan
On the other end of the spectrum, if you're financially better off now than you were when first took out your loan, you could be eligible for more favorable loan terms and conditions.
- Better interest rates are available now
You don't have to know much about economics to understand that the market fluctuates. If banks and credit unions can offer lower interest rates now than they were when you got your original loan, refinancing could save you money in the long term.
- You want to weigh your options
It's possible that when you first applied for your loan, you didn't get the best terms available. If you think you could be eligible for better loan terms and conditions now, shopping around is never a bad idea.
Applying for a refinancing loan could lower your credit score, but only temporarily. When you apply for any type of credit, a hard inquiry is made on your credit history. However, after six months, these "dings" to your score typically disappear.
When applying to refinance your auto loan, check your credit score so you know where you currently stand. Then, avoid any major credit inquiries—such as applying for a new credit card or applying for other types of loans—for the next six months to minimize the impact on your score.
Different lenders have different standards for credit scores. However, even if your credit is poor, you might still be eligible for better loan terms than you were originally.
Call 1.800.650.6328 to see if your credit score could allow for better terms.
If you still have questions about refinancing, contact us at 1.800.650.6328 to speak to a representative.
Or if you have all the information you need, click the button below to get started refinancing your auto loan today.